#ILGov: $26 billion in tax-hikes later, the Deadbeat State is deadbeatier than ever

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pat quinnIn January 2011, the clock was running out on a lame-duck Illinois state legislature that wanted to raise taxes. Democrats had lost seats in the recent election, and with some of their own members opposed to the increase, they were about to lose the numbers they needed to make it happen.

The 66 percent income tax hike passed by just one vote in the state Senate and three votes in the state House.

The point of the tax hike, Gov. Pat Quinn, (D, at right) told reporters, was to retire the $4.5 billion in IOUs the state had accumulated — late payments to state vendors, contractors, doctors seeing Medicaid patients, and anyone else foolish enough to do business with the Deadbeat State.

Nearly three years and $26 billion in additional taxes later, guess what’s happened? That’s right. Illinois is now $9 billion behind on its payments, the Illinois Policy Institute notes:

[I]llinois’ unpaid bills are slated to reach $9 billion during the Christmas season this year…By the end of the current fiscal year, lawmakers will have collected a total of $25.7 billion in new revenue from the 2011 tax hike. Despite this massive inflow of new cash, Illinois’ unpaid bills are higher today than they were when lawmakers passed the 2011 tax hike.

Yes, it’s easy to laugh at Illinois, and Illinois deserves the mockery, and its low bond rating, and anything else you can throw at it. But if you wonder why conservatives generally oppose tax increases as a way of balancing budgets, here’s the easy answer: If you give these guys extra money, you know exactly what they’re going to do with it.

– See more at: http://www.conservativeintel.com/2013/12/27/ilgov-26-billion-in-tax-hikes-later-the-deadbeat-state-is-deadbeatier-than-ever/?utm_source=Intel&utm_medium=email&utm_campaign=House#sthash.2dq1Fujf.dpuf